Word: slumps
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Dates: during 1970-1979
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Typically, Evans is now the most vocal of a small (but not modest) band of experts who assert that the U.S. is already in recession. That conflicts with the views of most other economists, who expect the slump to start this summer. In one of his last reports for Chase Econometrics, a computerized forecasting service that he is leaving in September, Evans notes that housing starts, retail sales, personal income and especially new durable goods orders have either slowed or fallen sharply. His conclusion: "You can't have an 8½% drop in new orders in one month...
...over increased food prices had toppled the Gomulka regime. The new government tried a policy of rapid economic development, heavily dependent upon Western technology and credits, to bring Poland out of economic stagnation. An international recession and a string of bad harvests led instead to an economic slump; and Gierek, like his predecessor, attempted to end artificial price controls in 1976. Workers took to the streets, and the regime backed down. With no solution in sight, Polish consumers now suffer from endemic shortages of meat. Necessary consumer goods like pins and shoe polish are sporadically unavailable. Meanwhile, Poland has managed...
Amid price surge, output slump and energy crunch, Carter seems stymied...
When the Harvard hoopsters embarked on their Western trip at Christmas, the team was riding a high, coming off some good early-season contests and a strong showing against Boston College in Boston Garden. When they returned, entrenched in the depths of a miserable slump, coach Frank McLaughlin said his squad was "fatigued...
...ordering spree, in an effort to build up stockpiles of parts and materials for fear of shortages ahead. He fears that inventory accumulation could be strong until the recession becomes apparent in the autumn, and then businessmen would abruptly cut back on orders, plunging the economy into a deeper slump. Says Arthur Okun, senior fellow at Brookings: "Paradoxically, we may have too much business confidence...